UK recovery is still slow despite recent growth forecasts

IEA Editorial and Programme Director Professor Philip Booth commented on the recent growth forecasts published by the ONS which showed the economy grew by 1.9 percent last year. He argued that the recovery was feeble compared to that seen in the great depression and post-war recessions where growth exceeded 4 percent.

Furthermore he argued that although the recent growth figures were welcome, the economy is still smaller than it was in 2008 and living standards are falling due to inflation outstripping wage growth.